The Billionaire With The $1 Salary, The Phone With The $499 Price Tag

Apple Inc’s Chief Executive and Visionary, Steve Jobs, received a salary of $1 last year according to information provided from the Securities and Exchange Commission.

Since returning to the company in 1997, Jobs has only taken a $1 paycheck each year but Jobs still owns more than $5.4 million dollars in restricted shares (worth $496 million). When his shares were fully vested in March 2006, Apple withheld about half that amount to cover Job’s taxes. Steve is reimbursed for his expenses, one of which includes a private jet.

Apple’s stock is always on the move since iPods hit the market a few years ago. On Monday, Apple stocks were up more than 80% from its 52 week low of $50.16. The upward movement is probably due to the iPhone’s approaching release date (June 2007). Though Jobs only receives $1 from Apple, he is still the largest shareholder at Disney after it acquired Pixar last year. Jobs is the former CEO of Pixar Animation Studios. Forbes Magazine ranked Jobs as the 132nd richest man, putting his net worth at $5.7 billion dollars.

The public is eagerly awaiting the iPhone, which features iPod music and video capabilities as well as touch screen technology, a camera, an HTML rich browser with built in Google features, maps and satellite images and also OS X Tiger’s popular Widget applications. The iPhone promises to be one of the most revolutionary phones of its kind, making it #1 on every geek and chic wish-list! Job’s innovation never ceases to amaze us!

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